NORMAN — Tuesday’s Oklahoma average gas pric, $3.35, is 38 cents above the state average 20 days ago, on Jan. 16, according to AAA Oklahoma. The recent price surge has been largely the result of higher crude oil prices and the “rubber-banding” of midcontinent retail gasoline prices, which fell dramatically to end the year and are now swinging back to the upside.
At yesterday’s close of formal trading on the NYMEX, the price of West Texas Intermediate settled down $1.60 at $96.17 per barrel. While prices moved lower yesterday, WTI traded last week at its most expensive level since September 14, said AAA.
Eleven states have a lower gasoline price average Tuesday than Oklahoma: Wyoming $2.95, Montana $3.04, Utah $3.15, New Mexico $3.18, Colorado $3.20, Idaho $3.26, Arizona $3.30, Tennessee $3.32, South Carolina $3.32, South Dakota $3.34 and Mississippi $3.345.